7 Questions You Should Ask at an Open House #3: Have the Owners Received Any Offers?

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Real Estate Agent with Remax Excellence - Silver Spring, MD Maryland #318884
https://activerain.com/droplet/7Ml
b An open house is a perfect opportunity for the listing agent to ask prospective buyers lots of questions, such as "have you been pre-qualified for a mortgage?" or "how long have you been looking?"  Instead of being on the receiving end of all the questions, why not ask a few of your own?  Questions that will help you decide if this is the perfect house for you or if you should walk away.  Here is Question #3 of "7 Questions You Should Ask at an Open House."

7 Questions You Should Ask at an Open House

Question
#3:  Have the Owners Received Any Offers and, If So, Why Weren't They Accepted?

If the owners rejected numerous offers that were too low or had contingencies or conditions they just weren't comfortable with, you should know sooner rather than later.  Submitting an offer on a property is the most nerve-wracking part of finding your new home - simply because of the anticipation of whether or not your offer will be accepted.  If you can avoid some of the stress of that time period by arming yourself with knowledge, so much the better!

So, the third question you should ask at an open house is if the owners received any offers and, if so, why they weren't accepted.  If the owners rejected offers because they were too low, you will know not to even attempt to place an offer in that price range.  If the sellers are averse to paying your closing costs or will not help with a downpayment or don't want to leave the alligator hung above the wood-burning fireplace, knowing in advance will help you make the best offer you can.  Not only that, it will help you place an offer that is more likely to get accepted!

Emcee Arah
RE/MAX Excellence Realtor with Architectural Dimension

Serving all your Real Estate needs in MD, VA & Wash., DC
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Rainer
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Indera Coggins
Re/Max 100 - Dunkirk, MD

Emcee, thanks for the tips.

Nov 05, 2010 02:29 AM #1
Rainmaker
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Emcee M. Arah
Remax Excellence - Silver Spring, MD - Silver Spring, MD
Realtor w/Architectural Dimension, AHWD CRS B-Arch

You are quite welcome, Indera! Thanks for stopping by!

Emcee

Nov 30, 2010 12:17 AM #2
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Rainmaker
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Emcee M. Arah

Realtor w/Architectural Dimension, AHWD CRS B-Arch
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